NasT, it reminds me of something very old school
you are right,but you have not told us details of that school,means you hiding some secrets from us ......any way thanks and how we will be trading in some parts of this setup when puppy is not agree with this.
Trading this on M1 and you loose more to your broker. You have to go on higher tfs. Short TSS reacts like that in longer trends, so you need confirmation of both - TSSemad and DSemad with bands. It's not the puppy, it's the BBB, the bad big bank and you should follow it and eat it (metaphorically), thanks to the white pill. Maybe you guess where the white pill is that the trend is exhausted and they want to collect some bulls for a trap. I will have to have more experience with it in order to make a clear setup.
PS: It's the good old Pacman
you are exact right,it is so hard on M1,agree,for DSemad,you means double smooth emad and how you apply bands and there are so many abbreviations for BBB,better bb and bbb% and so on....and yes i saw pills , but there is lot to learn from you,thanks.
For building a good trading system on M1, you can't rely on 1, 2 or 3 indicators.
You must make use of very slow indicators, slow indicators, medium fast indicators and fast ones.
The fast ones follow the price the most and are used for entries.
The mediums help the fast ones, when they reach OB or OS levels and the slow ones are for the general trend (like some slow moving averages)
Secondly, once you have built a fairly good template, you have to train with it untill you know every single indicator. You have to know how every single one reacts to the price.
After some time, your little system is inside you mind, so when that's the case, stick with it and change only an indicator by another one if you know for sure it's a better one (or mostly you have found a better setting with the new one). Just train some more and then jump to real trading.
Maybe you better would trade the M5, I think that's easier for Forex.
I trade the M1 with success in BO, I have 38 indicators for that in 4 subwindows, there are more indicators on the chart itself.
Some are only arrows, but these are also indicators and I KNOW what every single indicator does and how it reacts and how all the slow, medium, predictors and fast indicators respond to each other.
It's only after hours, days of training that your minds starts to see the waves price always makes.
As indicators represent the price : fast ones make fast waves, these get inside the waves mediums make and the mediums get inside the waves the slow indicators make .....
Wow, 38 indicators. I have 5-6, would like to add 2 or 3 but it's getting too messy on my board for my S/R zones and TLs. I see it like you, good indicators are important, but far more important is that a traders knows his indicators how they react in every market situation. So, one can see when the trend is short before exhausted, makes one more cough and will turn the next few bars most likely.
I have maximum 7 visible ones in one subwindow, the slowest are the thickest and the faster the indicator is the thinner it becomes. The not visible ones have only divergence arrows.
I just wait for a fat indicator to come down before I start to think price will go back up, as price goes ALWAYS in waves, that's the ONLY thing that's sure about it.
I also make use of predictors that go down way before the price and the other indicators are coming down.
These predictors are pretty good, when for instance, price is going up and the normal indicators follow, as long as the predictors do not say 'down' it is safe to do, in my case, a 'call'.
I use as predictors, RSX of MACD, Stochastic CG and TSS. These will also give false signals, but I use other, more accurate indicators to filter them out.
My system is a mess, but as it is possible to fly an aeroplane with all those buttons, it's also possible to trade a 'mess'.
And YES you HAVE TO KNOW what YOUR indicators WILL do ...
OTHERWISE THE PACMANS WILL GET YOU AND EAT YOUR EARNINGS ....
krelian , wulong.
my twice honey masters,you are right thank you for guiding me in a pretty way,i am trying to understand your logic and learning it too,hope one day will found my destination,thank you helping and explaining things.
yes,logic is valid,and example of aeroplane dashboard/penal is more fit to your saying,....any way which of other method or tools that you think more accurate to filter out and you used for confirmation to the said said RSX of MACD and 2 others.
Hmm, strangly enough I use another Stochastic CG as an exact one, but that one has different settings ...
Also DSS of Averages, DSS of RSX, RSX Variation, Nonlag Stoch, CCI of NMA ...
As slow oscillators another Stochastic CG , a DSS of NMA and the slowest one is the good old DSS Bressert, but there are even much slower indicators on the chart itself, like the Hull Parabolic.
It does not matter what indicators you use (as long as they come from here), the most important thing is to find a good combination of indicators that suits your trading style and provides you comfort in trading.
It's impossible to predict what price will do (sometimes it is possible and that's when you win) and sometimes your indicators will let you down, but if you have a system you can rely on, you are already one step ahead ....ha ha, you might want to use a step indicator in your system ....